The IDB has estimated that in less than 10 years (by 2030), Latin America and the Caribbean needs more than $577 billion to close the electric power gap. Of that total, the region will need around $397 billion to build new generation, transmission, and distribution infrastructure, and more than $180 billion to replace and maintain existing assets. Private investment, … [Read more...] about How open to private-sector involvement is the electric power industry in Latin America and the Caribbean?
Energy subsidies are widely used across the globe. The International Monetary Fund (IMF) estimates that energy subsidies cost trillions of dollars each year as they are increasingly used due to fiscal constraints, peaks in fuel prices, and the misalignment of incentives with climate change efforts. In addition to the heavy burden, … [Read more...] about Communication Strategies: A Key Element for Energy Subsidy Reforms in Latin America and the Caribbean
The energy transition is changing the dynamics of the global investment landscape and opening the door to new activities and business opportunities that will likely impact the sector’s labor market. Evidence from certain LAC countries suggests that for every million dollars invested in the energy sector’s emergent areas, between 7 and 49 new jobs are created. To fully unlock … [Read more...] about Unlocking the employment potential of Latin America’s Energy Transition
At the climate summit in Glasgow, UN Secretary-General António Guterres had a blunt message: “The six years since the Paris Climate Agreement have been the six hottest years on record. Our addiction to fossil fuels is pushing humanity to the brink”. To stand a chance of limiting global warming to 1.5°C, the goal that international leaders have set to keep the climate crisis … [Read more...] about Six reasons why supporting natural gas can put public finances at risk
Colombia published the National Hydrogen Strategy and Road Map. This guide will be key for securing a strategic position in a nascent industry that has the potential to revolutionize energy markets in the coming decades. Hydrogen is the most abundant element in Earth’s atmosphere. It can be utilized as fuel, an energy carrier, and industrial raw material to store and … [Read more...] about Colombia Takes Position in the Green Hydrogen Industry in Latin America